Santander 123 Accounts Only Two Per Person

innovate

I admit, there is a likelihood that this is really true (not doubting the OP btw, just not sure any typical bank eployee [Santander or other] actually knows their wares).

The Quidco/TCB offer for the 123 has recently been changed to apply to switched accounts only - so it seems there's definitely some "rationalising" happening.

Gavlaar

News to me, I was told that 2 was the limit anyway - does this mean that each account if meeting the qualifying T's and C's will pay 3% interest?

Gromitt

Yes, it does.

SavingFish

A few questions...

It's been mentioned that Saturday is the last day to open more than two accounts in branch...

Have people managed to open more than 1 account in the same day (can I walk in and say "three current accounts please!")?

What about online? Can I just fill in the online form a few times before the weekend?

Final thought: Where do joint accounts fit in with this? I hope they don't count towards the limits of both account holders.

grizzly1911

SavingFish wrote: »

A few questions...

It's been mentioned that Saturday is the last day to open more than two accounts in branch...

Have people managed to open more than 1 account in the same day (can I walk in and say "three current accounts please!")?

What about online? Can I just fill in the online form a few times before the weekend?

Final thought: Where do joint accounts fit in with this? I hope they don't count towards the limits of both account holders.

I did both of mine on line direct with Sanatander on seperate days. I already had an Esaver and they were both opened within 24 hours.

sparkyspark

SavingFish wrote: »

A few questions...
It's been mentioned that Saturday is the last day to open more than two accounts in branch...
Have people managed to open more than 1 account in the same day (can I walk in and say "three current accounts please!")?
What about online? Can I just fill in the online form a few times before the weekend?
Final thought: Where do joint accounts fit in with this? I hope they don't count towards the limits of both account holders.

The reason the manager initially rang me was because I had an appointment for the 27th June to open more 123 accounts through a power of attorney account I manage, as well as more for my wife. He asked me how many 123 accounts I would wish to open, of which I will be opening four individual accounts on attorney and three more for my wife which I was told was not a problem, I just had to bring my appointment forward to this Friday to accommodate the change in policy.

With regard to Joint Accounts, again the info I was given upto the 22nd June, you can have your name on five accounts only, five individual 123 accounts per person giving you and your partner ten in all or five joint accounts.

SavingFish

All useful information
One last (quick) question...

Is there any way I can stop them sending me debit cards for these new accounts? I didn't see an option online, but maybe it's different in branch.

(I have way too many cards/pins/passwords to deal with anyway).

innovate

Don't forget the £85K per person FSCS limit in any frenzy to beat the deadline.

innovate

SavingFish wrote: »

All useful information
Is there any way I can stop them sending me debit cards for these new accounts? I didn't see an option online, but maybe it's different in branch.

don't think you can. I just changed the PINs to something I can remember, and then put the cards into my safe.

SavingFish

innovate wrote: »

Don't forget the £85K per person FSCS limit in any frenzy to beat the deadline.

I'd been planning to open them anyway (fixed rate elsewhere coming to an end in the next few weeks), just bringing my plans forward slightly.

Still seems crazy that this is now on a par with a new 5 year fix!